BUS 260 Entrepreneurship Syllabus - Spring 2016 Instructor: Alan W. Jackson, MBA Office Hours: W 9:00-1:00; TTh 10:45-12:30 Office Telephone: 402-872-2255 Office Location: TJM 242 Email Address: ajackson@peru.edu Course Meets: TJM 101; 12:30 1:45 Required Textbook: Small Business Management in the 21st Century Cadden, eisbn 978-1-4533-4556-6 Hard copy books for sale at Flatworld Knowledge http://goo.gl/wglilc Free electronic ebook available at http://2012bookslardbucket.org Modern Management of Small Businesses by Cadden Even though the titles are different, these are the same book. Required Software: Microsoft Word, Excel, and PowerPoint. Business planning software recommended. Ability to listen to podcasts and watch videos Course Description & Objectives: The design of this course is for individuals interested in starting a small business. For those students that are not interested start a business, you will benefit from the broad application of skills needed to plan, organize, staff, direct, and control business operations. The areas covered include writing a small business plan, researching markets, raising money, analyzing accounting records, and using information technology. Additional objectives as approved by the Faculty Senate of Peru State College are the development of critical thinking skills and writing skills. Further skill development in the analysis, synthesis, and evaluation as a part of the higher order of Blooms Taxonomy. Upon completion of this course, you should be able to: 1. Define the role of the entrepreneur and describe the benefits/drawbacks of entrepreneurship. 2. Engage in creative exercises 3. Conduct a feasibility study/ construct a business 4. Determine which business form fits various business 5. Describe how a business start-up or small business can build a competitive edge through effective marketing.
6. Determine effective strategies for entrepreneurs to achieve success in e-commerce efforts. 7. Describe effective pricing techniques for introducing new products or services. 8. Create proforma financial statements. 9. Describe sources of debt capital The instructor reserves the right to modify any aspect of the course syllabus or content. The instructor will communicate any modifications to students in advance. Expectations & Instructional Approach This course examines the concepts and major tools planning currently used in the promotion of and the communication about products (both goods and services) to end users (both business-tobusiness [B2B] and business-to-consumer [B2C]). The effects of increasingly complex demographic diversity and the globalization of the marketplace will be crucial in discussing the ever-changing process of communicating with consumers. Also, new database/information technologies, the rise of the Internet as a communication and distribution channel, and increasingly innovative ways of reaching consumers will be a primary responsibility in discussions. Many students who decide to study entrepreneurship have a great interest in owning their businesses someday. Creating an entrepreneurial venture involves the passion for making one's vision or dream of a new venture come true. Many people consider entrepreneurs to be risk takers but, in reality, they are savvy, well-grounded professional managers with a broad range of knowledge and skills including marketing, finance, human resources, and production that apply to many businesses. Students will learn about the characteristics that make up the personalities of successful entrepreneurs. This course helps students to build a solid foundation for those students who desire to start their new venture. Whether the student is interested in purchasing an existing company, or buying into a franchise, entering a family business, or to going to work for an existing entrepreneurial enterprise, the student will find the course information beneficial. Planning for starting a business begins with committing the idea to paper and learning the basic concepts and definitions used in to operate a small business. We will describe some of the basic concepts and definitions used in operating small businesses. The design of this course helps those students who desire to acquire the knowledge and techniques to build a new venture and to overcome the greatest risk facing an entrepreneur the risk of not taking the actions necessary to realize the entrepreneur s vision or dream of creating his or her venture. Failing to plan is planning to fail. In working with owners and managers of small enterprises over the years, I can personally vouch for the fact that if you do not have an effective plan and you do not execute that plan, your business WILL FAIL. Assessment and Grading Submit all assignments using Blackboard. Your will find your grades in the Blackboard gradebook.
Assessment Measure Points Quizzes Weekly (points vary) 100 Business Plan Checkpoints (4, points vary) 100 Business Plan Project 100 Business Plan Presentation 50 Entrepreneur Interview 50 Final Exam 50 Attendance & Participation (30 class meetings) 50 In class homework assignments 100 Total 600 I reserve the right, at my sole discretion, to award bonus points to students who display exceptional leadership, course content competency, extraordinary effort, or other outstanding academic, intellectual, work experience, or knowledge of the course work. Grading Scale 90-100% A 85-89% B+ 80-84% B 75-79% C+ 70-74% C 65-69% D+ 60-64% D Below 60% F Read: Read the assigned chapters from the textbook via the appropriate links. Required: Watch the short videos from each chapter. Let your instructor know if a link is not working. Individual Assignments: Every couple of weeks you will complete a Business Plan Checkpoint assignment related to the business plan. These points vary, but add up to 100 points. The business plan checkpoints are designed to keep you on task so that you can submit a completed business plan in Week Seventeen. Submit all written assignments as a Microsoft Word attachment. Place your name on a standard APA style cover page (using the template in the course documents folder). Be sure you properly format all assignments. If you have questions, please ask. The ability to follow instructions is a crucial and vital life skill. I will not grade items lacking a cover paper. I will return papers which lack a title page and ask you to resubmit these. Chapter Quizzes: There will be 14 quizzes over the course of the term. These may include multiple-choice questions and essay question over the chapter covered that week to assess your knowledge and understanding of the subject matter. A word on essay questions. If you have not taken an essay quiz in a while, here is a website to review: http://www.indiana.edu/~wts/pamphlets/essay_exam.shtml Basic Business Plan: Students will submit a basic business plan as their final project in the course. The final business plan needs to be at least 15 pages (but should not be more than 25
pages (excluding the cover page, table of contents, references list, and any Appendices). A checkpoint will be due about every three weeks. Late Assignment Policy: The due date associated with each week is definitive and will not be waived or excused except in extraordinary circumstances such as a documented death in the family or documented medical emergency. The due dates are found on the course schedule, and the deadline is by midnight (CST) on the date indicated. You will submit most assignments through Blackboard. Assignments received late will receive zero (0) points, unless prior permission is granted. It is critical that you keep up with your reading and coursework. If you anticipate being unavailable for some portion of the term, you may complete your work ahead with prior approval. Please do not attempt to submit assignments by email. Submit all assignments through Blackboard. Submit your individual weekly assignments to the instructor via the View/Complete Assignment link provided in the Assignments folder when reviewing each weekly assignment. Attach assignments as Word documents. Please do not type in the comments box. You can view your individual feedback using the grade book. Simply click on the grade you would like to see comments for, and it will provide an Instructor s Comments section, I may make comments using Microsoft Word s in text comments. To view comments, go to the Review Tab in Word 2010, 2013, 2016 or Office 365 click the Review Tab, and then under Track Changes, be sure that Final: Show Markup is visible. Be sure you read and understand the instructions. I use rubrics extensively to grade student work. Deadlines: You must observe all due dates in order to be successful in this course. It is critical that you keep up with your weekly readings and assignments. Please keep a copy of all of your course work, just in case there is a technical problem that requires you to re-submit an assignment or posting. All written assignments are expected to be written thoroughly, using paragraph form and complete sentences (along with proper grammar and punctuation). Grading Rubrics are provided in the Course Information folder defining how assignments are graded (including content quality and written quality). Use Grammarly: Free to Peru State students is a web software program known as Grammarly. Use Grammarly to check your document for grammatically It is freely available to PSC students. You may need to sign-up if you are not already a registered user. http://www.grammarly.com In class homework assignments: In this class, we flip the classroom. The videos, chapter readings, exercises should be completed at home outside of class. Come to class prepared to discuss the material, ask questions, and lead a discussion. There will be very little formal lecture and small groups will be formed for each class session. Entrepreneur or small business owner interview: During Weeks 6 through Week 7, you will be required to interview an entrepreneur or small business owner. You will need to identify the interviewee by Week Four. By Week Five you will need to develop roughly a dozen questions
specific to the type of business the entrepreneur or small business owner operates. You will gain approval of your questions BEFORE conducting the interview. You will also be asked to transcribe your interview. Keep your interview to around 20 to 30 minutes. This is to be mindful of the interviewee s time and that transcribing more than this amount of time is extensive. Most students report this activity as an important activity and often one of the best parts of the course. This assignment will be due at mid-term in Week Eight. The final examination for this class will be comprehensive. The final is scheduled for May 4 th between 1:00 and 3:00 p.m.
College s Incomplete Coursework Policy To designate a student s work in a course as incomplete at the end of a term, the instructor records the incomplete grade (I). Students may receive this grade only when serious illness, hardship, death in the immediate family, or military service during the semester in which they are registered prevents them from completing course requirements. In addition, to receive an incomplete, a student must have completed substantially all of the course s major requirements. Unless extenuating circumstances dictate otherwise, students must initiate requests for an incomplete by filling out an Incomplete Grade Completion Contract, which requires the signature of the student, instructor, and Dean. The Incomplete Grade Completion contract cites the reason(s) for the incomplete and details the specific obligations the student must meet to change the incomplete to a letter grade. The date by which the student agrees to complete required work must appear in the contract. The Dean, the instructor, and the student receive signed copies of the Incomplete Grade Completion Contract. Even if the student does not attend Peru State College, all incomplete course work must be finished by the end of the subsequent semester. Unless the appropriate Dean approves an extension and if the student does not fulfill contract obligations in the allotted time, the incomplete grade automatically becomes an F. College s Academic Integrity Policy The College expects all students to conduct themselves in a manner that supports an honest assessment of student learning outcomes and the assignment of grades that appropriately reflect student performance. It is ultimately the student s responsibility to understand and comply with instructions regarding the completion of assignments, exams, and other academic activities. At a minimum, students should assume that at each assessment opportunity they are expected to do their own original academic work and/or clearly acknowledge in an appropriate fashion the intellectual work of others, when such contributions are allowed. Students helping others to circumvent honest assessments of learning outcomes, or who fail to report instances of academic dishonesty, are also subject to the sanctions defined in this policy. Instances of academic dishonesty may be discovered in a variety of ways. Faculty members who assign written work ordinarily check citations for accuracy, run database, and online checks, and/or may simply recognize familiar passages that are not cited. They may observe students in the act of cheating or may become aware of instances of cheating from the statements of others. All persons who observe or otherwise know about instances of cheating are expected to report such instances to the proper instructor or Dean. In order to promote academic integrity, the College subscribes to an electronic service to review papers for the appropriate citations and originality. Key elements of submitted papers are stored electronically in a limited access database and thus become a permanent part of the material to which future submissions are compared. Submission of an application and continued enrollment signifies your permission for this use of your written work.
Should an occurrence of academic misconduct occur, the faculty member may assign a failing grade for the assignment or a failing grade for the course. Each incident of academic misconduct should be reported to the Dean and the Vice President for Academic Affairs (VPAA). The VPAA may suspend for two semesters students found to be responsible for multiple instances of academic dishonesty. The reason for the suspension will be noted on the student s transcript. A faculty member need present only basic evidence of academic dishonesty. There is no requirement for proof of intent. Students are responsible for understanding these tenets of academic honesty and integrity. Students may appeal penalties for academic dishonesty using the process established for grades appeals. Title IX Compliance Notice Peru State is an equal opportunity institution. Peru State College does not discriminate against any student, employee or applicant on the basis of race, color, national origin, sex, sexual orientation, gender identity, disability, religion, or age in employment and education opportunities, including but not limited to admission decisions. The College has designated an individual to coordinate the College s nondiscrimination efforts to comply with regulations implementing Title VI, VII, IX, and Section 504. Inquiries regarding non-discrimination policies and practices may be directed to Eulanda Cade, Director of Human Resources, Title VI, VII, IX Compliance Coordinator, Peru State, PO Box 10, Peru, NE 68421-0010, (402) 872-2230. Students requesting reasonable accommodation and tutoring services should contact the Center for Achievement and Transition Services (CATS).
Rubric for Business Plan Criterion Overview / Summary Description Strategic Plan Implementation: Description of Marketing Mix Financial Information Exemplary Proficient Adequate Describes and analyzes market very clearly and thoroughly; chooses objectives that are most relevant and states them clearly; mission statement is very well stated and complete Strategic plan is complete and clearly stated, including all of the following: value chain, targeted segment(s), target market, design offer, distribution plan, and communication plan Describes marketing mix fully and well, including specifics of product/service, pricing, distribution tiers, media, Customer Relationship Management plan, and Management Information System plan Presents detailed, realistic, and appropriate financial information including a budget and five-year Describes and analyzes market well; objectives and mission statement are well stated Strategic plan is almost complete, including most of the following: value chain, targeted segment(s), target market, design offer, distribution plan, and communication plan Describes marketing mix, including most of the specifics of product/service, pricing, distribution tiers, media, Customer Relationship Management plan, and Management Information System plan Presents specific, realistic, and appropriate financial information including a budget and five-year Describes and analyzes market and states objectives and mission statement in an adequate manner Strategic plan is somewhat complete, including some or many of the following: value chain, targeted segment(s), target market, design offer, distribution plan, and communication plan Describes marketing mix with some omissions of specifics of product/service, pricing, distribution tiers, media, Customer Relationship Management plan, and Management Information System plan Presents financial information that in some ways is not specific, realistic, and/or appropriate; the budget and/or five-year forecasts Does Not Meet Standard Does not describe and analyze market or does so poorly; fails to state objectives and mission statement or states them poorly Strategic plan is not complete, including few or none of the following: value chain, targeted segment(s), target market, design offer, distribution plan, and communication plan Does not describe marketing mix or does so poorly, omitting many or all of specifics of product/service, pricing, distribution tiers, media, Customer Relationship Management plan, and Management Information System plan Does not present a budget and/or five-year forecasts of costs and revenues or does so with many gaps Score
forecasts of costs and revenues Plan Evaluation Identifies key performance metrics of the business plan in a complete and clear manner Documentation and support Writing mechanics Resources used to prepare plan are effectively used and are clearly attributed Writing demonstrates a sophisticated clarity, conciseness, and correctness forecasts of costs and revenues Identifies key performance metrics of the business plan in an above-average manner Plan is generally supported; attribution is mainly clear Writing is accomplished in terms of clarity and conciseness and contains only a few errors of costs and revenues are not complete Identifies key performance metrics of the business plan in an adequate manner Although attribution is present, some statements are unsubstantiated and the source of some ideas is unclear Writing lacks some clarity or conciseness and contains some errors Does not present an evaluation of the business plan or does so in an incomplete or incorrect way Attribution is missing, or sources given are poorly chosen Writing is unfocused, rambling, or contains serious errors Total:
Business Plan Evaluation Form - Oral Presentation Please evaluate the oral presentation of the business plan on the following criteria: 1=Poor, 2=Fair, 3=Adequate, 4=Good, 5=Excellent PRESENTATION STYLE (35%) 1. Materials presented in clear, concise, and logical and/or sequential format 2. Business purpose was well explained within the first couple of minutes and left me wanting for more 3. Presentation stayed within time frame 4. Conveyed confidence and professionalism 5. Demonstrated knowledge of industry 6. Responsiveness to judges/effectively fielded questions 7. Stimulated investor interest and/or ability to maintain judge's interest; was enthusiastic 8. Visual aids complemented critical plan issues and presented creatively without too many words BUSINESS PLAN SUMMARY (35%) 1. Product/service clearly described 2. Marketability of product substantiated 3. Company operations clearly described 4. Major risks identified 5. Sales analysis and forecasts clearly presented. Key projections clearly presented (sales, profits, cash flows) 6. Capital requirements and source clearly stated 7. Ability to relate need for the company (meaningful examples, etc.) THE TEAM & VENTURE VIABILITY (30%) 1. Vision: The lead entrepreneur provides clear insight into how the product/market opportunity was identified and assessed 2. Leadership: The lead entrepreneur demonstrates the personal characteristics necessary to launch and operate this venture 3. Skill: The lead entrepreneur demonstrates the skills and abilities necessary to manage this venture 4. Venture Fit: The team possesses the strengths needed by the venture 5. Team Fit: The team demonstrates the cohesion required to perform critical venture top management risks 6. Viability Potential: The business, as presented, represents a real potential for success Note: These are raw scores. The oral presentation is worth a maximum of 50 points. Total Score: Comments:
Tentative Schedule Week Week of Topic Assignments 1 1/11/16 1/18/16 2 1/18/16 1/25/16 3 1/25/16 2/1/16 4 2/1/16 2/8/16 Course Introduction, Class Overview, Review syllabus and Business Plan Project Foundations of for Small Business Your Business Idea: The Quest for Value Read Chapter 2 Take Quiz 2 Family Businesses Read Chapter 3 Take Quiz 3 Read Chapter 1 Take Quiz 1 Complete Entrepreneurial Quiz Scan Chapter 16: Appendix A: Sample Business Plan in your textbook Submit Checkpoint One (CP1) E-Business and E-Commerce Read Chapter 4 Take Quiz 4 5 2/8/16 2/15/16 6 2/15/16 2/22/16 7 2/22/16-2/29/16 8 2/29/16 3/7/16 The Business Plan Read Chapter 5 Take Quiz 5 Marketing Basics Read Chapter 6 Take Quiz 6 Submit Checkpoint Two (CP2) Conduct Entrepreneur Interview Marketing Strategy Read Chapter 7 Take Quiz 7 Conduct Entrepreneur Interview The Marketing Read Chapter 8 Take Quiz 8 Submit Entrepreneur Interview Submit Checkpoint Three (CP3) 9 3/7/16 - SPRING BREAK
3/11/16 10 3/14/16 3/21/16 11 3/21/16 3/28/16 12 3/28/16 4/6/16 13 4/4/16-4/11/16 14 4/11/16 4/18/16 15 4/18/16 4/25/16 16 4/25/16 5/2/16 17 5/2/16 5/6/16 Accounting and Cash Flow Read Chapter 9 Take Quiz 9 Financial Management Read Chapter 10 Take Quiz 10 Supply Chain Management: You Better Get it Right Read Chapter 11 Take Quiz 11 Submit Checkpoint Four (CP4) People and Organization Read Chapter 12 Take Quiz 12 The Search for Efficiency and Effectiveness Presentations Icebergs and Escapes Presentations Presentations Comprehensive Final Examination Wednesday, May 4 th Business Plan Presentations (if necessary) Prepare Business Plan Presentation Read Chapter 13 Take Quiz 13 Prepare Business Plan Presentation Read Chapter 14 Take Quiz 14 Prepare and Present Business Plan Presentation Present Business Plan Presentation Submit Location Analysis Assignment Submit Business Plan Project Take Final Examination Note: All assignments due Friday at 5:00 p.m.